Oppenheimer Asset Management Inc. Purchases 9,359 Shares of Trex Company, Inc. (NYSE:TREX)

Oppenheimer Asset Management Inc. boosted its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,072 shares of the construction company's stock after purchasing an additional 9,359 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.07% of Trex worth $4,536,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Trex by 227.2% during the 4th quarter. Huntington National Bank now owns 566 shares of the construction company's stock valued at $39,000 after purchasing an additional 393 shares in the last quarter. Blue Trust Inc. grew its holdings in Trex by 55.9% during the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock valued at $66,000 after purchasing an additional 408 shares in the last quarter. GAMMA Investing LLC grew its holdings in Trex by 137.7% during the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock valued at $97,000 after purchasing an additional 965 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Trex during the 4th quarter valued at $122,000. Finally, Bessemer Group Inc. grew its holdings in Trex by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after purchasing an additional 170 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Trex Price Performance

Shares of TREX traded up $1.32 during mid-day trading on Friday, hitting $54.88. The company's stock had a trading volume of 4,721,933 shares, compared to its average volume of 1,431,730. The firm has a 50-day moving average price of $57.02 and a 200 day moving average price of $61.96. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.32 and a beta of 1.52. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $86.56.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business's revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS. As a group, equities analysts anticipate that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Trex from a "hold" rating to a "sell" rating in a report on Wednesday, March 5th. Citigroup reduced their price objective on shares of Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective on the stock. Stephens reduced their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Finally, UBS Group reduced their price objective on shares of Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $76.65.

Insider Buying and Selling

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of Trex stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the sale, the senior vice president now directly owns 24,569 shares in the company, valued at $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of Trex stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the sale, the senior vice president now owns 27,527 shares of the company's stock, valued at $1,659,052.29. This trade represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Trex Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.